MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Stake Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,604 shares of the semiconductor company’s stock after selling 100 shares during the quarter. State of Alaska Department of Revenue’s holdings in MACOM Technology Solutions were worth $857,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MTSI. Westfield Capital Management Co. LP grew its stake in shares of MACOM Technology Solutions by 21.0% in the third quarter. Westfield Capital Management Co. LP now owns 1,210,547 shares of the semiconductor company’s stock worth $134,686,000 after purchasing an additional 210,151 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of MACOM Technology Solutions by 52.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 530,623 shares of the semiconductor company’s stock worth $59,037,000 after purchasing an additional 182,058 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of MACOM Technology Solutions by 18.4% in the third quarter. The Manufacturers Life Insurance Company now owns 745,503 shares of the semiconductor company’s stock worth $82,945,000 after purchasing an additional 116,090 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of MACOM Technology Solutions in the third quarter worth $11,005,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of MACOM Technology Solutions in the third quarter worth $8,916,000. 76.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MTSI shares. Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of MACOM Technology Solutions in a research note on Monday. Northland Securities raised MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $105.00 to $140.00 in a research note on Monday. Barclays increased their price target on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Northland Capmk upgraded MACOM Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Piper Sandler upped their price objective on MACOM Technology Solutions from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.50.

Insider Activity

In related news, Director Susan Ocampo sold 1,789 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $125.00, for a total transaction of $223,625.00. Following the transaction, the director now directly owns 5,912,219 shares of the company’s stock, valued at approximately $739,027,375. The trade was a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert Dennehy sold 2,539 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $120.80, for a total value of $306,711.20. Following the transaction, the senior vice president now directly owns 31,206 shares in the company, valued at $3,769,684.80. The trade was a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,172 shares of company stock valued at $17,261,483 over the last three months. Insiders own 16.30% of the company’s stock.

MACOM Technology Solutions Trading Up 0.2 %

Shares of NASDAQ MTSI opened at $122.09 on Friday. MACOM Technology Solutions Holdings, Inc. has a 12 month low of $82.36 and a 12 month high of $152.50. The company has a market cap of $9.08 billion, a price-to-earnings ratio of -84.78, a P/E/G ratio of 2.27 and a beta of 1.71. The company has a quick ratio of 6.55, a current ratio of 3.61 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $134.59 and a 200-day simple moving average of $120.40.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.38). MACOM Technology Solutions had a negative net margin of 13.05% and a positive return on equity of 12.42%. Sell-side analysts predict that MACOM Technology Solutions Holdings, Inc. will post 2.71 EPS for the current year.

MACOM Technology Solutions Profile

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum in the United States, China, Australia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, and internationally.